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Hongkong Land net loss expands 150% amid weak sales of mainland China projects

SCMP LogoSCMP4h ago

Hongkong Land net loss expands 150% amid weak sales of mainland China projects - SCMP

Quick Summary:

The biggest landlord in Hong Kong’s Central district said its underlying loss was US$7 million for the first half after a US$295 million provision for development properties in mainland China.

Physical and committed vacancy rates were 7.3 per cent and 6.8 per cent, respectively, in the first half of the year, compared with 7.4 per cent and 6.8 per cent last year.

Weak sentiment in mainland China’s residential market affected sales of Hongkong Land’s development projects and resulted in the provision, the company said.


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Article Details

Author / Journalist: Yulu Ao

Category: Business

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-02 @ 08:00:13 (4 hours ago)

News Timezone: GMT +8:00

News Source URL: scmp.com

Language: English

Article Length: 482 words

Reading Time: 3 minutes read

Sentences: 19 lines

Sentence Length: 26 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © SCMP

News ID: 21892043

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About SCMP

SCMP Logo

Main Topics: Business

Official Website: scmp.com

Update Frequency: 14 posts per day

Year Established: 1903

Headquarters: Hong Kong

News Last Updated: ago

Coverage Areas: Hong Kong

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Worldwide

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #42

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The story "Hongkong Land net loss expands 150% amid weak sales of mainland China projects" was covered 4 hours ago by SCMP, a news publisher based in Hong Kong.

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  • URL: https://beamstart.com/news/hongkong-land-net-loss-expands-17225602908898

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